Latin America Shared Mobility Market Size and Growth Overview (2025-2033)
Market Size in 2024: USD 37.10 Billion
Market Forecast in 2033: USD 105.14 Billion
Market Growth Rate 2025-2033: 12.27%
According to the latest report by IMARC Group, the shared mobility market in Latin America reached USD 37.1 billion in 2024. Looking ahead, the market is expected to reach USD 105.14 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 12.27% during 2025-2033.
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Latin America Shared Mobility Market Trends & Drivers
The Latin America shared mobility market is experiencing explosive growth fueled by rapid urbanization, escalating fuel costs, and an increasing emphasis on environmental sustainability that is reshaping transportation preferences across the region. The emergence of electric vehicles (EVs) and autonomous vehicles (AVs) represents a paradigm shift toward clean, efficient urban mobility solutions. Notable developments include BYD's November 2024 expansion in Brazil, where 51,000 BYD cars represent 72% of imported vehicles, with the new Camaçari plant poised to produce 150,000 vehicles in 2025. Latin American governments are actively facilitating the EV transition through incentive programs, subsidies, and charging infrastructure development, creating a supportive ecosystem for shared mobility services to flourish.
Massive investments in transportation infrastructure are catalyzing market expansion as governments and private enterprises recognize the critical need for modern, efficient transport systems to support burgeoning urban populations. The February 2025 inauguration of the Patrick J. Ottensmeyer International Rail Bridge exemplifies this trend, with the $100 million project enhancing trade connectivity between Mexico, the United States, and Canada while boosting cargo mobility and regional integration. Improved infrastructure facilitates consumer adoption of shared transportation solutions, making shared mobility increasingly accessible and practical for urban residents. The development of multimodal transportation hubs integrating buses, trains, and ride-sharing services enables seamless transitions for commuters, encouraging shared mobility adoption by offering convenient alternatives to private vehicle ownership and promoting the establishment of EV charging stations that reinforce consumer confidence in sustainable mobility solutions.
Latin America Shared Mobility Industry Segmentation
The report has segmented the market into the following categories:
Breakup by Service Model:
- Ride Hailing
- Bike Sharing
- Ride Sharing
- Car Sharing
- Others
Breakup by Channel:
- Online
- Offline
Breakup by Vehicle Type:
- Car
- Two-wheelers
- Others
Breakup by Country:
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Others
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Competitive Landscape
The market research report offers an in-depth analysis of the competitive landscape, covering market structure, key player positioning, top winning strategies, a competitive dashboard, and a company evaluation quadrant. Additionally, detailed profiles of all major companies are included.
Recent News and Developments in Latin America Shared Mobility Market
- November 2024: Chinese electric vehicle manufacturer BYD acquired Ford's former manufacturing plant in Camaçari, Brazil, transforming it into a major production hub. The facility is expected to produce 150,000 vehicles in 2025, eventually scaling up to 300,000 vehicles by 2028, with approximately 10% designated for export across South America. This strategic investment reinforces the region's commitment to electric mobility and sustainable transportation solutions.
- March 2024: Stellantis announced a historic €5.6 billion investment plan for Latin America spanning 2025 to 2030, representing the largest investment in the region's automotive history. The comprehensive strategy includes launching over 40 new products by 2030 with a primary focus on accelerating mobility decarbonization, demonstrating a strong commitment to transforming Latin America's transportation ecosystem toward more sustainable solutions.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter's Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
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